Estimation of Willingness to Pay Values for Road Traffic Crash Risk Reduction in India

As road traffic crashes occupy the major share of a country’s economy, implementation of road safety schemes is inevitable. In the absence of an estimate of road traffic crash costs it will be difficult to identify the sums of money that should be invested each year on road safety countermeasures. For evaluating the acceptance of any road safety improvement scheme, public attitude towards safety and their willingness to pay (WTP) to reduce their involvement as a victim has to be taken into account. This study is an attempt to overcome the lack of reliable estimates of road traffic crash costs in India, through a Stated Preference (SP) survey to know how users value safety and how much they are willing to pay for a safer road facility. To the authors’ knowledge, this is the first attempt of this kind to evaluate road traffic crash cost in India. Socio-economic details, travel related details and road crash related details were collected as part of the survey. The attributes considered were travel time, travel cost and road crash per year with two levels. Fractional factorial design was used to reduce the number of choice combinations for the respondents. Finally the respondents were provided with 6 alternatives to compare each with the current alternative and to select the most suitable one. It was observed that most of the respondents preferred the improved alternatives with reduced road traffic crash risk than the existing alternative they presently use. Binary Logit model was used in the study for finding the WTP values.

• Supplemental Notes:
  • This paper was sponsored by TRB committee ANB10 Standing Committee on Transportation Safety Management.
• Corporate Authors:

  Transportation Research Board

  500 Fifth Street, NW
  Washington, DC  United States  20001
• Authors:
  • Krishnamurthy, K
  • B, Sivakumar
• Conference:
  • Transportation Research Board 95th Annual Meeting
  • Location: Washington DC, United States
  • Date: 2016-1-10 to 2016-1-14
• Date: 2016

Language

• English

Media Info

• Media Type: Digital/other
• Features: References; Tables;
• Pagination: 11p
• Monograph Title: TRB 95th Annual Meeting Compendium of Papers

Subject/Index Terms

• TRT Terms: Countermeasures; Highway safety; Stated preferences; Traffic crashes
• Uncontrolled Terms: Willingness to pay
• Geographic Terms: India
• Subject Areas: Finance; Highways; Operations and Traffic Management; I10: Economics and Administration; I73: Traffic Control;

Filing Info

• Accession Number: 01589076
• Record Type: Publication
• Report/Paper Numbers: 16-1853
• Files: TRIS, TRB, ATRI
• Created Date: Feb 1 2016 9:26AM